33) Assets held for sale

The assets of British Midland Ltd. presented as held for sale are made up as follows:


in €m


Intangible assets


Aircraft and reserve engines


Repairable spare parts for aircraft


Property, plant and other equipment


Financial investments


Other assets




Intangible assets consist of EUR 239m for bmi’s slots and EUR 15m for the bmi brand name. Financial investments include a 59.38 per cent stake in British Mediterranean Airways Ltd. held at EUR 37m.

Impairment losses of EUR 150m were recognised for intangible assets and property, plant and equipment in the financial year 2011 and form part of the result from discontinued operations.

The following liabilities form part of the same disposal group and are also shown separately in the balance sheet:


in €m


Other provisions




Other liabilities


Deferred income tax liabilities




Assets held for sale also include assets with a carrying amount of EUR 32m from the spin-off and sale of the private customer business of AirPlus Air Travel Card Vertriebsgesellschaft mbH. Liabilities of EUR 26m form part of the same disposal group.

At year-end 2011 asset held for sale also included two Boeing B747-400s, two Airbus A340-300s, six Boeing B737-300s, one Airbus A330-300, three Canadair Regional Jet 200s and five Avro RJs with a total carrying amount of EUR 64m. Impairment losses of EUR 52m were recognised on these assets.

At year-end 2010 this item consisted of one Airbus A340-300, one Airbus A330-200, two Airbus A330-300s, six Canadair Regional Jet 200s, five ATR 42-500s, two Dash 8-300s and four Cessna Citations. Of the two Airbus A330-300s one was let on a finance lease in the 2011 financial year and the second was also let on a finance lease in February of the financial year 2012. The other assets were sold in financial year 2011, see “Note 45”.

Collateral received for the assets shown here has a fair value of EUR 8m.

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